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Consolidated Statements Of Income And Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME        
Loans receivable, including fees $ 7,876 $ 6,459 $ 15,474 $ 12,604
Securities:        
Taxable 344 344 685 720
Tax-exempt 316 190 629 391
Interest bearing deposits 6 6 22 10
Total Interest Income 8,542 6,999 16,810 13,725
INTEREST EXPENSE        
Deposits 852 636 1,569 1,211
Borrowings 479 448 960 885
Subordinated debentures 316 98 637 166
Total Interest Expense 1,647 1,182 3,166 2,262
Net Interest Income 6,895 5,817 13,644 11,463
PROVISION FOR LOAN LOSSES 380 385 787 596
Net Interest Income after Provision for Loan Losses 6,515 5,432 12,857 10,867
OTHER INCOME        
Service fees on deposit accounts 285 256 538 481
ATM and debit card fees 200 200 380 387
Bank-owned life insurance 128 75 234 151
Insurance commissions and fees 1,143 1,039 2,890 2,760
Investment brokerage fees 0 50 3 77
Net (loss) gain on sales of securities (30) 105 77 272
Net (loss) on disposal of premises and equipment 0 (6) 0 (19)
Other 92 107 173 241
Total Other Income 1,818 1,826 4,295 4,350
OTHER EXPENSES        
Salaries and employee benefits 3,677 3,076 7,235 6,429
Occupancy, net 456 512 956 936
Data processing 521 548 1,078 1,097
Furniture and equipment 234 283 474 516
Advertising and promotion 89 86 195 191
Professional fees 198 177 475 351
Director fees 89 160 196 219
FDIC assessment 93 121 144 241
Insurance 66 73 132 146
Stationary and supplies 44 50 76 102
Merger-related expenses 481 0 481 0
Loan collection costs 28 53 52 85
Net expenses and write-downs related to foreclosed real estate 32 144 77 219
Other 518 315 932 676
Total Other Expenses 6,526 5,598 12,503 11,208
Income before Income Taxes 1,807 1,660 4,649 4,009
EXPENSE FOR INCOME TAXES 603 551 1,434 1,326
Net Income 1,204 1,109 3,215 2,683
OTHER COMPREHENSIVE INCOME:        
Unrealized gains on available for sale securities arising during the period 1,144 1,576 1,820 2,561
Fair value adjustments on derivatives (455) (1,149) (415) (1,549)
Reclassification adjustment for net loss (gain) on securities transactions included in net income 30 (105) (77) (272)
Income tax related to items of other comprehensive (loss) income (287) (129) (531) (296)
Other comprehensive income, net of income taxes 432 193 797 444
Comprehensive income $ 1,636 $ 1,302 $ 4,012 $ 3,127
EARNINGS PER SHARE        
Basic (usd per share) $ 0.25 $ 0.24 $ 0.68 $ 0.59
Diluted (usd per share) $ 0.25 $ 0.24 $ 0.67 $ 0.58